Varun Beverages Q3 FY26 results (Oct–Dec 2025) and concall

Fast Moving Consumer Goods · Concall AI · Call held 3 Feb 2026

Company page: Varun Beverages share price, financials & guidance record

Varun Beverages navigated a challenging CY2025 marked by unprecedented rainfall impacting the peak India season, yet delivered 7.9% volume growth and maintained margins near all-time highs. Q4 showed meaningful recovery with 10%+ volume growth. With 40-45% capacity added over two years largely unutilized, the Twizza acquisition in South Africa, and new product launches (energy drinks, Nimbooz Jeera), management is confident of double-digit India volume growth in CY2026 if weather normalizes.

You’re reading a preview. Opening the full call uses 1 concall credit.

What they filed

Q3 FY26: revenue up 14.0%, net profit up 32.7% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
Revenue	4,805	3,689	5,567	7,017	4,897 +2%	4,204 +14%
Expenses	3,654	3,110	4,304	5,020	3,751	3,568
EBITDA	1,151	579	1,263	1,998	1,146 −0%	637 +10%
Margin	24%	16%	23%	28%	23%	15%
Other income	24	45	28	77	148	99
Interest	119	109	41	37	45	47
Depreciation	257	261	273	306	308	330
Profit before tax	800	254	978	1,732	941 +18%	359 +41%
Tax rate	21%	23%	25%	23%	21%	28%
Net profit	629	196	731	1,325	745 +18%	260 +33%
EPS	1.91	0.55	2.15	3.89	2.19	0.74

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.

What they filed

More Fast Moving Consumer Goods earnings calls